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Fly News Breaks for November 29, 2018
BV
Nov 29, 2018 | 09:21 EDT
RBC Capital analyst Deane Dray lowered his price target on BrightView to $18 after its in-line Q4 results, saying that its better margins were offset by lower revenues. The analyst notes that the price target is also derived from his view that the stock should trade in line with a group of commercial and industrial outsources service peers and maintains his Outperform rating. Dray further claims that BrightView management is "capably" offsetting higher input costs in labor and materials, which suggests that the business model of this "unique commercial landscaping growth strategy" is "right on track".
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